Innovations and shocks in Tech 2022

A disproportionately large percentage of microchips used around the world are built in Taiwan, thus putting any risks to Taiwan's independence a risk to all industries with microchip applications everywhere.

- RAJESH MEHTA & KRISHANU RANWAN

In the wake of the unprecedented global pandemic, 2021 was a golden year for tech as it saw a vast increase in usage of online services and revenue for tech companies. As the world went back to relative normalcy in 2022, the spike in online services declined. New vaccines and medical research helped return the world to a state comparable to prepandemic living. In 2022, technology has made rapid strides, from healthcare to space technology and digital currencies, among others. Separately, rare earth minerals continue to be explored and used in new devices all around the world. Moreover, defence technology has shown itself to be pivotal to modern conflicts. This has been the year of new military tech in warfare—from drones to cyberwarfare—which have allowed even smaller countries to withstand overwhelming conventional forces.

Facebook rebranded to Meta with a new focus and vigour on augmented reality and virtual reality. Facebook previously acquired Oculus to enter the virtual reality market. It has now rebranded and shifted itself altogether towards its vision for an immersive, 3D internet of the future. Meta’s Reality Labs division produces headsets which can be worn to enter its new creation of the “Metaverse”. The metaverse is supposed to be an environment where users can play games, set up business, hold meetings together, communicate and build a whole new, parallel virtual existence. It will also allow businesses to build and expand into a new virtual environment where they can reach new potential buyers and subscribers for their online and offline products.